Thai Airways International’s board has ordered the management team to revise a proposed aircraft acquisition plan.

The carrier says that, following a board meeting on 24 September, it has been instructed to find a funding source that is “most appropriate for the current situation” and to submit the new plan within six months.

It adds that the plan must ensure “the highest benefit for both Thai [Airways] and Thailand”.

The airline’s operating loss more than doubled in the second quarter, to Bt7.11 billion ($231 million). Group revenue fell 10% to Bt42.5 billion, while the net loss doubled to Bt6.9 billion.

Recent local reports indicate that the airline’s plan for acquiring 38 aircraft worth Bt156 billion was split into two phases, covering narrowbodies and widebodies. A separate plan to lease three additional aircraft was also said to be under consideration.

Had the board backed the proposal, the airline would have then sought the approval of Thailand’s transport ministry in October before proceeding with the acquisition.

Thai Airways says it is unable to comment on its new intentions following the board’s demand that the plan be revised.

Source: Cirium Dashboard